Airlines face $47.7 billion loss in 2021, worse than earlier forecast: IATA

However, the IATA slightly raised its forecast for global air passenger traffic

Airlines are forecast to lose $47.7 billion this year, worse than previously forecast, a global industry group said Wednesday, as the sector struggles to recover from the coronavirus pandemic.

On a brighter note, the International Air Transport Association slightly raised its forecast for global air passenger traffic, saying it would reach 43 per cent of pre-pandemic levels.